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1. (Compound Interest) Finding F, P, I, j.t Formula: I= F-P n=tm i=j/m F = P(1 + i) n P=F(1 + i) CV = DP + F(1 + i) 2. Find the compound amount and interest if P120,000 is deposited in a bank paying 8.75% compounded monthly for 7 years.

1. (Compound Interest) Finding F, P, I, j.t Formula: I= F-P n=tm i=j/m F = P(1 + i) n P=F(1 + i) CV = DP + F(1 + i) 2. Find the compound amount and interest if P120,000 is deposited in a bank paying 8.75% compounded monthly for 7 years.

Algebra and Trigonometry (6th Edition)
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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1. (Compound Interest) Finding F, P, I, j, t Formula: 1₂ = F-P_n=tm i=j/m F = P(1 + i) n P = F(1 + i) CV = DP + F(1 + i) 2. Find the compound amount and interest if P120,000 is deposited in a bank paying 8.75% compounded monthly for 7 years.
Transcribed Image Text:1. (Compound Interest) Finding F, P, I, j, t Formula: 1₂ = F-P_n=tm i=j/m F = P(1 + i) n P = F(1 + i) CV = DP + F(1 + i) 2. Find the compound amount and interest if P120,000 is deposited in a bank paying 8.75% compounded monthly for 7 years.
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